Odyssey Marine Exploration (OMEX) just unveiled an announcement.
Odyssey Marine Exploration, Inc. has introduced a 2024 Executive Compensation Plan to reward its executives, including the CEO, for their efforts in the company’s success, particularly regarding the Exploraciones Oceánicas project and other business areas. The plan includes a one-time special cash bonus linked to profits from ExO or a favorable NAFTA arbitration outcome against Mexico. Bonuses are conditional on meeting specific financial prerequisites, including a minimum profit, debt conditions, and company liquidity. The payouts, which are a percentage of the gross settlement or award, will be distributed within 30 days once conditions are met, with potential deferrals if the bonus exceeds twice an executive’s salary.
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